Real estate developer New Europe Property Investment (NEPI) expects to fully lease this year the City Business Centre project in Timisoara, which includes five office buildings. The project’s current occupancy rate is 95%.

Last year, NEPI leased 10,500 sqm in the City Business Centre to new or existing tenants. The new tenants include Bosch, Hella, EY, and local lender Banca Transilvania.

City Business Centre Timisoara is the main class A office project in Timisoara. It is located in the center of the city. The project’s rentable area amounts to 47,141 sqm. Over 5,000 employees work in the five office buildings.

The project has been developed by local businessman Ovidiu Sandor on the site of a former confections factory. Sandor sold part of the project to NEPI in 2012 and recently completed his exit from this project. He got some EUR 75 million, in total, for the project, according to media estimates.

editor@romania-insider.com